Bookkeeping

Why is depreciation on the income statement different from the depreciation on the balance sheet?

It also added the value of Milly’s name-brand recognition, an intangible asset, as a balance sheet item called goodwill. An asset account which is expected to have a credit balance (which is contrary to the normal debit balance of an asset account). For example, the contra asset account Allowance for Doubtful Accounts is related to […]

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